They still have oil bought at over $100 in their storage. Hence the small price reduction. If crude oil prices remain stable below $100 then there should be a further price reduction

Actually the point raised is serious. Whenever the prices rise, the companies are ver fast at revising their prices upwards but not when it comes to revising them downwards.
They always say like @jwatesh ati they have to finish what they had bought before. I have never heard a thing on why they cannot finish what the had in their tanks if they had bought it cheaper before
increasing the prices upwards. If Kenyans do nothing, they will always be sc****d. I do not have the histroy but sometimes back even b4 the gava brought that famous tax ya fuel the price of the barrel had gone to more than 125$ there has been a reduction to 85$
about 40$ per barrel the best at calculations can tell us how much people are supposed to pay.

Canada and Mexico.. They get more than half of their crude Oil from those two. then the Gulf countries follow.

Does it matter where you import crude from? There shouldn't be much difference between prices across all oil producing countries.

Developed countries have a better supply chain management( fewer middle men) and of course better consumer protection laws!

National Oil becomes first to set diesel price below 100, a shilling below regulator’s price http://www.businessdaily.../-/8joou0z/-/index.html

I found there's a concept called 'replacement cost profit' for oil companies which is the current cost of oil supplies. In a declining oil market, oil companies suffer losses from the stocks they hold. It appears ERC formulas protected importers a bit, at our expense of course.